Chiliz (CHZ), a cryptocurrency that powers the Chiliz blockchain, leveraged the broader market movements last week to maintain its rounded bottom structure, as it sustained a trend of lower lows.
Meanwhile, the Aroon Up is at 100%. In contrast, Aroon Down at 28.57% indicates a weak downtrend. However, if the Aroon Down rises this week, this may indicate growing bearish pressure. In this case, SUI could find support at .8286.
The Sui token was created by Mysten Labs, a blockchain infrastructure company founded by engineers who previously worked at Meta Platforms on the Diem (formerly Libra) project.
The 8-Bit Coin is a cryptocurrency created as a tribute to retro gaming systems, such as the Atari 7800. It operates on the Solana blockchain and is intended for use in gaming-related applications, allowing users to earn rewards and participate in a community focused on nostalgia and gaming culture
The global crypto market staged a recovery last week, posting a 2.79% increase and closing with a market capitalization of .21 trillion.
CHZ retests 4-month high
The company was co-founded by notable figures including Evan Cheng, Sam Blackshear, Avery Ching, and George Danezis, all of whom contributed to Meta’s blockchain and cryptocurrency efforts before transitioning to build Sui.
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This suggests that while the momentum is strong, a period of consolidation or a minor correction could follow this week unless strong buying pressure persists. Volume remains high, so bulls could leverage this.
While Bitcoin (BTC) spearheaded the rally, several altcoins also played a role in the market’s recovery. Below are some of the standout performers from last week:
If the bulls maintain the uptick, its next resistance level would come in at However, if the bears are able to trigger a drop below the upper Bollinger Band, investors should pay close attention to the 20-day MA (Sui (SUI) had a strong showing last week, surging 28% from .75 to close at .24. Its most bullish moments came up during the market recovery on Oct. 11 and 12, during which it spiked 21%.
This surge added billion to the market’s overall valuation.
Chiliz is primarily focused on the sports and entertainment industries. It was created by entrepreneur Alexandre Dreyfus in 2018, to transform fan engagement through blockchain technology.
Chiliz has now recorded another 9% rally in the new week, pushing it above the upper Bollinger Band at
The 8-Bit Coin is a cryptocurrency created as a tribute to retro gaming systems, such as the Atari 7800. It operates on the Solana blockchain and is intended for use in gaming-related applications, allowing users to earn rewards and participate in a community focused on nostalgia and gaming culture
.0752. A retest and bounce off this level would signal continuous strength for a sustenance of the current uptrend.
